Keynote derivatives daily report for 110512


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Keynote derivatives daily report for 110512

  1. 1. Daily DerivativesOutlook 11thMay 2012 Spot Near Premium Nifty The Nifty futures premium to spot increased to 17 pointsNifty 4966 4983 17 with a 1% increase in open interestindicating shortBank Nifty 9411 9355 -56 covering. India VIX fell marginally due to range-boundUSD/INR 53.3375 53.6100 0.27 price action. Writing was seen in the 4900 to 5400 callIndia VIX 22.72 -0.32 -1.39% optionswhile the 4400 to 5000 puts were boughtand short covering/long liquidation happened in the 5100to 5400 puts. The equilibrium moved down to between the 5000 Nifty Open Interest Analysis and 5100 strike. 1 2 3Maximum 5200 5400 5300 Bank NiftyCall OIMaximum The Bank Nifty May futuressaw a 3% increase inopen 4900 5000 4800Put OI interestwith a marginal increase in discountas shortEquilibrium 5000 to 5100 positions were built. Writing happened in the 9300 to 10500 callswhile buying was seen in the 9000 to 9400 puts. Short covering/Profit-takinghappened in the 9500 to 10500 puts. The equilibriumremained at the9500strike. Bank Nifty Open Interest Analysis 1 2 3Maximum USD/INR 10500 11000 10000Call OI The futures premium fell by 0.37 to 0.27 (wrt RBIMaximum reference rate) and open interest dropped by 3.68% due 9500 9000 10000Put OI to long liquidation. The equilibriummoved down toEquilibrium 9500 between 53.5 and 54. STOCK FUTURES Long Buildup: BPCL, Indusind Bank, Yes Bank, Canara USD/INR Open Interest Analysis Bank, Colgate 1 2 3Maximum Long Reduction/Short Covering:IDFC, Ranbaxy, JP 53 54 53.5Call OI Associate, ALBK, Apollo, Arvind, Idea, Uniphos, GEMaximum Shipping, MRF. 53 54 53.5Put OIEquilibrium 53.5 to 54 Short Buildup : Coal, HDIL, Jindal SawATM IV Call 11.17 Put 12.38SOURCE – NSE Keynote Capitals Ltd. th The Ruby, 9 Floor, SenapatiBapatMarg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
  2. 2. DisclaimerThis document is not for public distribution and has been furnished to you solely for your information and must not be reproduced orredistributed to any other person. Persons into whose possession this document may come are required to observe these restrictions.This material is for the personal information of the authorized recipient, and we are not soliciting any action based upon it. This reportis not to be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer orsolicitation would be illegal. It is for the general information of clients of Keynote Capitals Ltd. It does not constitute a personalrecommendation or take into account the particular investment objectives, financial situations, or needs of individual clients.We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though itsaccuracy or completeness cannot be guaranteed. Neither Keynote Capitals Ltd., nor any person connected with it, accepts any liabilityarising from the use of this document. The recipients of this material should rely on their own investigations and take their ownprofessional advice. Price and value of the investments referred to in this material may go up or down. Past performance is not a guidefor future performance. Certain transactions -including those involving futures, options and other derivatives as well as non-investmentgrade securities - involve substantial risk and are not suitable for all investors. Reports based on technical analysis centers on studyingcharts of a stock’s price movement and trading volume, as opposed to focusing on a company’s fundamentals and as such, may notmatch with a report on a company’s fundamentals.Opinions expressed are our current opinions as of the date appearing on this material only. While we endeavor to update on areasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent usfrom doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may besubject to change without notice. Our proprietary trading and investment businesses may make investment decisions that areinconsistent with the recommendations expressed herein.We and our affiliates, officers, directors, and employees world wide may: (a) from time to time, have long or short positions in, and buyor sell the securities thereof, of company (ies) mentioned herein or (b) be engaged in any other transaction involving such securitiesand earn brokerage or other compensation or act as a market maker in the financial instruments of the company (ies) discussed hereinor act as advisor or lender / borrower to such company (ies) or have other potential conflict of interest with respect to anyrecommendation and related information and opinions.The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about thesubject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectlyrelated to specific recommendations or views expressed in this report.No part of this material may be duplicated in any form and/or redistributed without Keynote Capitals Ltd’s., prior written consent. Keynote Capitals Ltd. th The Ruby, 9 Floor, SenapatiBapatMarg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322